433 Atlantic AveOceanside, NY 11572

Property Details for 433 Atlantic Ave

Year built

1935

Construction

FRAME

Lot size

0.29 AC

Property size (Sq ft)

1,170 SF

Property type

Retail properties

APN

43-379-00-0048

APU

43379000048

Description

This four-unit apartment building at 433 Atlantic Avenue, Oceanside, NY 11572, presents a compelling value-add investment opportunity. Currently generating a net operating income (NOI) of $118,000 and a 5.36% capitalization rate, the property offers significant upside potential. A pro-forma NOI of $158,800 and a pro-forma cap rate of 7.22% are projected, reflecting the opportunity to increase rental income by aligning current rents with market rates. Located in the vibrant community of Oceanside, this property benefits from its proximity to numerous retail establishments, including Stop & Shop, PC Richards, and Dunkin', as well as the Woodcrest Luxury Apartments. Its convenient location, a short walk from the Oceanside Long Island Rail Road station, enhances its appeal to commuters and tenants. The asking price for this multifamily property is $2,200,000. This Nassau County investment presents a strong chance for substantial returns through rental increases. The property's current below-market rents provide a clear path to improved profitability.

Location Insight

City

Oceanside

County

Nassau

State

New York

Latitude

40.6403

Longitude

-73.6514

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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